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Last $46.06 USD
Change Today -0.52 / -1.12%
Volume 115.7K
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

cabot microelectronics corp (CCMP) Key Developments

Cabot Microelectronics Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Year-To-Date Ended March 31, 2015; Re-Affirm Capital Expenditure Guidance for the Year 2015

Cabot Microelectronics Corporation reported unaudited consolidated earnings results for the second quarter and year-to-date ended March 31, 2015. For the quarter, the company achieved revenue of $104.9 million, 5% higher than the same quarter last year. Diluted earnings per share were $0.55 this quarter, which represents an increase of 37.5% compared to $0.40 reported in the second quarter of fiscal 2014. Capital investments for the quarter were $2.8 million, bringing year-to-date capital spending to $5.3 million. The company generated cash flow from operations of $27 million. Operating income was $19.472 million compared to $14.614 million a year ago. Income before income taxes was $18.081 million compared to $13.874 million a year ago. Income available to common shareholders was $13.628 million compared to $9.962 million a year ago. Net income increased primarily due to a higher gross profit margin, including the absence of the asset impairment charge, and higher revenue, partially offset by higher operating expenses. Year-to-date, revenue of $216.8 million represents an 8.4% increase from the prior year. Year-to-date, diluted earnings per share were $1.36, which represents an increase of 58.1% compared to $0.86 last year, which included the asset impairment charge. Operating income was $42.038 million compared to $30.324 million a year ago. Income before income taxes was $40.798 million compared to $29.329 million a year ago. Income available to common shareholders was $33.397 million compared to $21.200 million a year ago. As of March 31, 2015, the company's cash balance net of debt outstanding was $165.2 million. The company continues to expect effective tax rate for full fiscal year 2015 to be within the range of 16% to 18%. For the full fiscal year, the company continues to expect capital spending to be within the range of $10 million to $15 million. Depreciation and amortization expense for the quarter was $4.6 million.

Cabot Microelectronics Corporation to Report Q2, 2015 Results on Apr 30, 2015

Cabot Microelectronics Corporation announced that they will report Q2, 2015 results Pre-Market on Apr 30, 2015

Cabot Microelectronics Corporation, Q2 2015 Earnings Call, Apr 30, 2015

Cabot Microelectronics Corporation, Q2 2015 Earnings Call, Apr 30, 2015

Cabot Microelectronics Corporation Elects Susan M. Whitney to the Board of Directors and as Member of the Audit Committee and the Compensation Committee

Cabot Microelectronics Corporation announced the election of Susan M. Whitney to the company's Board of Directors. Ms. Whitney, a 35-year veteran of the IBM Corporation, retired in 2007 as the General Manager, IBM System X, leading the IBM Server Group, and directing IBM's global x86-based server division. Prior to that, she served in numerous executive leadership roles, including marketing and sales responsibilities for the IBM Asia Pacific and IBM Midwest organizations. She serves as a director of the College of Mt. St. Vincent, and served as a director of LSI Logic Corporation prior to its acquisition by Avago Technologies Ltd. in 2014. Ms. Whitney was elected by the Board of Directors of the Corporation with a term continuing until the corporation's annual meeting of stockholders to be held in 2016. She also was appointed a member of the Audit Committee and the Compensation Committee of the Board of Directors. The Board of Directors has determined that Ms. Whitney is an independent director as defined by relevant regulations.

Cabot Microelectronics Corporation Announces the Retirement of Frazee as Member of Board of Directors

Cabot Microelectronics Corporation announced the retirement of Mr. Frazee as member of board of directors, at the annual meeting of stockholders.

 

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CCMP

Industry Average

Valuation CCMP Industry Range
Price/Earnings 18.1x
Price/Sales 2.5x
Price/Book 2.6x
Price/Cash Flow 18.1x
TEV/Sales 1.4x
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